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Xerox Corporation Message Board

betting_my_bundle 5 posts  |  Last Activity: Nov 12, 2014 9:56 AM Member since: Jul 2, 2001
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  • The following is a press release from Standard & Poor's: NEW YORK (Standard & Poor's) Oct. 29, 2014--Standard & Poor's Ratings Services today said that its ratings on Home Loan Servicing Solutions Ltd.(HLSS) are not immediately affected by the regulatory difficulties of its largest customer, OCWEN Financial Corp.(OCN) We recently downgraded OCWEN (B/Negative/--) and revised our rating outlook on its related party, Altisource Portfolio Solutions, to negative from stable. At this time, we do not feel that a negative rating action on HLSS is warranted based on these events. First, the interactions between HLSS and OCWEN have not faced the same level of scrutiny as OCWEN's relationships with its other related parties. Regulators have explicitly questioned aspects of the relationship between OCWEN and Altisource, but have not done so for the company's relationship with HLSS. Secondly, although the business products that HLSS sources from OCWEN will likely come under pressure, we believe that the asset coverage covenants on HLSS' secured term-loan and its earnings capacity, which includes minimal tax expense, support the current ratings. Third, the business and financial risks inherent in HLSS's close relationship with OCWEN have already been factored into our rating on HLSS.

  • Reply to

    HLSS President Buys More Stock Today

    by betting_my_bundle Oct 27, 2014 12:05 PM
    betting_my_bundle betting_my_bundle Oct 28, 2014 10:56 AM Flag

    HLSS Director McGinnis bought 1,500 shares on Friday at $18.516 and now holds 16,000 shares.

  • Reply to

    HLSS President Buys More Stock Today

    by betting_my_bundle Oct 27, 2014 12:05 PM
    betting_my_bundle betting_my_bundle Oct 28, 2014 10:20 AM Flag

    A director bought 1,500 shares on Friday at over $18. These buys hopefully indicate the stock is cheap here and that they are showing confidence about the current outlook.

  • betting_my_bundle by betting_my_bundle Nov 11, 2014 11:08 AM Flag

    "Adjusted earnings per share are expected to be $1.11 to $1.17. Our guidance includes six cents from higher pension settlement expense. 2014 full-year expectations remain unchanged with GAAP earnings per share from continuing operations to be in the range of 93 to 95 cents and full-year adjusted EPS of $1.11 to $1.13.

    For 2015, Xerox expects operating cash flow of $1.9 to $2.1 billion. The company also expects to allocate at least $500 million for stock buyback, and anticipates spending up to $500 million on acquisitions and approximately $300 million on dividends. Building on its share repurchase plan, Xerox’s board of directors has approved $1.5 billion increase in its current share repurchase plan.

    The company continues to expect operating cash flow for 2014 at the $1.8 to $2.0 billion range."

    Note that analysts were estimating 2015 adjusted EPS of $1.18, but add back the 6 cent pension charge and the guidance range would have been $1.17 to $1.23.

  • Reply to

    HLSS President Buys More Stock Today

    by betting_my_bundle Oct 27, 2014 12:05 PM
    betting_my_bundle betting_my_bundle Nov 12, 2014 9:56 AM Flag

    With the stock down, insiders keep nibbling. A director bought 2,000 shares on Monday a bit under $19.

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